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Cave Creek, AZ 85331

Single-Family Homes

Here is your weekly Market Update!



Cave Creek, AZ 85331

Tue May 28 2024
This week the median list price for Cave Creek, AZ 85331 is $1,170,000 with the market action index hovering around 33. This is about the same as last month's market action index of 33. Inventory has decreased to 178. Click here to stay informed with the Cave Creek market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Cave Creek, AZ 85331

Tue May 28 2024
This week the median list price for Cave Creek, AZ 85331 is $1,170,000 with the market action index hovering around 33. This is about the same as last month's market action index of 33. Inventory has decreased to 178. Click here to stay informed with the Cave Creek market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Real-Time Market Profile

Never miss important changes in the Cave Creek market.
Median List Price $1,170,000
Median Price of New Listings $1,000,000
Per Square Foot $393
Average Days on Market 104
Median Days on Market 70
Price Decreased 54%
Price Increased 3%
Relisted 9%
Inventory 178
Median Rent
Market Action 33
Slight Seller's Advantage

Prices in this zip code been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle. Watch the Market Action Index for any signs of demand increasing.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$2,345,000 4,445 2.5 - 5 acres 4 5 10 2 2 87
$1,397,000 3,463 0.5 - 1 acre 4 3.3 17 3 5 77
$992,500 2,764 0.25 - 0.5 acre 4 3 23 6 3 56
$715,000 2,158 6,500 - 8,000 sqft 3 2 25 4 10 42